Now Tesco moves into the property market

Tesco has launched a "do-it-yourself" home selling service that cuts out estate agents.

The supermarket chain says sellers can save thousands by registering with its website - Tescopropertymarket.com - for a one-off fee of £199.

However, the move has provoked furious criticism from other online property listings sites and estate agents.

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One online agency said it was consulting its lawyers about "remarkable similarities" to its own site, while another complained that Tesco's "flying solo" approach leaves sellers dangerously exposed if something goes wrong.

The Tesco site requires sellers to carry out all the work normally performed by an estate agent, such as measuring the rooms, writing particulars and even valuing the property.

Sellers are given a Tesco-branded "for sale" sign, but must arrange and conduct viewings themselves.

Buyers have to deal entirely through the website, negotiating with the seller through emails as "negotiation face to face can be quite awkward".

The site provides guides to carrying out the negotiation, handling the conveyancing and tips and safeguards for organising viewings.

The site was launched this week with 300,000 properties for sale in England and Wales, taken from the website of its "partners", online estate agencies fish4homes.co.uk and Smart-NewHomes.co.uk.

However, other websites, including market-leader Rightmove.co.uk, refused to work with Tesco. An industry source said: "Tesco approached all the website operators about two months ago and tried to persuade them to join. Almost all of them said no."

"Selling a home is a very big deal, and the feedback we have had is that people do not feel confident in going it completely alone."

Property consultant Trevor Mealham even said Tesco's move meant it was now legally an estate agent and would have to comply with all legislation regulating the industry.

He said: "The OFT's website states that a 'property retailer' is an estate agent when they provide clients with a for sale board. Tesco is clearly doing this and is therefore an estate agent under the law.

"This means it has to comply with the Property Misdescriptions Act yet there is no way for Tesco to check the accuracy of information supplied by sellers.

"Another ramification is that Tesco will have to join the Ombudsman for Estate Agents' scheme from 1 August or it will be trading illegally."

A Tesco spokeswoman denied this was the case.

Tesco.com chief executive Laura Wade-Gery added: "Over one million families a year move home, typically following a lifechanging event like an addition to the family or a career change, and for many it's a confusing and stressful experience.

"Tesco Property Market offers a 'one-stop shop' for everything related to moving house, and we hope this will make life a little simpler and save money for many home movers."